In June 2009, the previous Minister for Housing announced the transfer of ownership of social housing properties to selected not-for-profit community housing providers. This is a significant reform for the sector as owning the properties that they manage will provide community housing providers with an asset base to secure private sector finance for investment in more housing.
The reform will support the NSW Government to meet and exceed its target to grow community housing to 30,000 homes by 2016.
The social housing properties transferred will include a proportion of homes currently under community housing management and the majority of homes built under the Nation Building Economic Stimulus Plan.
Community Housing Asset Ownership Policy
The Community Housing Asset Ownership Policy (PDF file, 1.10MB) sets out Housing NSW’s requirements of vesting ownership of properties to selected community housing providers. The policy outlines the prerequisites for asset ownership and the requirements that community housing providers must meet in order to be eligible to own Government funded social housing.
The Asset Ownership Policy is part of a broader assurance framework in NSW that integrates regulatory and legislative controls with policy levers in order to manage risk and support growth and development of a dynamic and sustainable not-for-profit housing system. This is to provide assurance to stakeholders (tenants, financiers, tax payers and government) that funded housing providers are viable, independent and innovative.
Tripartite Deed
The Tripartite Deed (PDF File, 66KB) sets out the contractual relationships between Housing NSW, a community housing provider and a finance institution lending funds to that provider.
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